Holt Logistics Partners to Develop New Marine Terminal in New Jersey
July 14, 2014
Multimodal freight transportation provider, Holt Logistics, has entered into a partnership with the South Jersey Port Corporation for the construction of a new marine terminal in Paulsboro, New Jersey, located at the former Paulsboro BP refinery on the banks of the Delaware River.
The planned 190-acre facility will be the first new multi-purpose marine terminal to be constructed on the Delaware River in over 30 years, and is estimated to create more than 850 permanent jobs when fully completed.
"The Delaware River really has become a rising tide that can create abundant opportunities for new cargo and business growth for the entire region," said Leo A. Holt, president of Holt Logistics. "The Paulsboro Marine Terminal will be a modern, multi-faceted facility that will greatly increase shipping capacity for a full range of commodities.”
The redevelopment of the Paulsboro Marine Terminal is directly connected to the planned construction of the new Holtec International manufacturing facility in Camden.
SJPC anticipates completion of a $170 million redevelopment of the Paulsboro terminal by next year. Holt will initially invest in excess of $10 million at the site, which represents the first phase of a private investment. As the facilities and surrounding industrial development areas reach their full potential, Holt anticipates larger investments into the port facility.
The state of New Jersey issued several bonds totaling $170 million to fund land and infrastructure improvements to the Paulsboro site, which previously housed the BP refinery and had been closed for more than a decade while a plan to redevelop the site was formulated.
The completed site will encompass 150 acres of waterfront land, with possible expansion to 190 acres, and 2,600 linear feet of berth on the Delaware River, all of which have been raised above the flood plain to resist operational shutdowns in the event of major storms.
Additional infrastructure improvements to the site include a dedicated bridge and off-ramp that connects directly to I-295, and approximately four miles of rail track on-site.